I've been applying to YC since 2013 (so this is going to be around our 10th time), although with different companies and cofounders. I've never gotten accepted, though we've made it to the interviews twice but never made it to the finish line to actually get in. Here's what I learned that could mean something:
1: Every time we got an interview we asked for recommendations. Last time we got a straight up email rejection when we decided it was probably a bad idea to ask again our network for a recommendation for the third time. If anything our startup was doing better than the last time we applied so I'm not sure how their process works.
2: We recycled our 1 min video and we got an interview. So if you're too lazy to make a new one, I guess it's fine
3: We'll apply for the 10th time sometime this weekend, and probably for the 11th.. fuck it.
I too have been applying for some time 8th application (2014 at least)...
I've been interviewed twice, had recommendations, helped a few YC companies and worked with a few YC companies.
The fact is, it appears YC's goal is to put fuel on the fire. You have to have something people want, or you have to be onto something they think people want. In addition, you are their product, so you have to be something people want as well.
They didn't accept you and your startup failed (different founders, companies, etc.) means they were probably right - likely not far enough along. I too have had my set of failures and each time they were right to reject me. Each time it's improved my business and although I haven't shifted businesses completely (and I'm sticking to my long-term 2-year plan). I believe I'm on the right track now and will apply again. Because as you said, "fuck it." The real trick is not really needing YC in the first place to succeed and that's when you'll be accepted.
One thing that's different for me now, is although I'm a solo founder, I have experience, a team of seasoned entrepreneurs advising me, some income.
I always tap my network, and I'll buy them all lunch, dinner, coffee or beer if I can. I also return the favor where I can. I intro startups to other founders or companies I know wherever possible. I assume, that we'll all pay each other back eventually, and I know I've brought in large contracts from my introductions - so I assume they've been happy to review my application.
Reach out and I'll be happy to review your application. Perhaps one day, you can return the favor as well :)
Demo day is the point of YC because it flips the tables and makes VCs compete for startups, as i understand it. YC is a good fit if you are positioning for a seed round. The best advice I ever got is that YC is just another VC underneath a bunch of hacker branding. You're either raising or building, you can't do both at once, so if you're not ready to raise, why talk to YC?
Why not spend your effort growing your business? Must you get into YC? If you wish to raise, why not raise without YC? I can understand if you're out of the country and don't have a VC in your area.
We have raised, around 700k, with a core team of 15. And every month has been our best month for the past 8 months. As we gear up for our A round (or US seed round) we'll try our best to maximize our chances to get in front as much investors as we can and YC will def be a great bonus for this part
You are telling me you are gearing up for Series A and still can't get into YC?
Why are you still chasing YC when you could be talking to customers, growing business, adding features?
Honestly, if I had the time to apply for YC I would but I would either spend the time relaxing in my hobby or growing my business. Investor talk is good if both you and VC are learning something from the meet. With YC it's just throwing hat in the ring with nothing to learn if you fail
Yes, definitely try to get a recommendation from a YC alum or partner. It's easier than you think, just hound them (be nice and polite thought) on Twitter and try to meet them for coffee (ideal) or over Skype to ask for advice. Think of it as a pre-interview, they'll ask you a bunch of good questions and will help you to come up with the answers. If you are personable and passionate enough, you'll very likely get a recommendation without even asking.
Also, practice for your interview with someone else (there are some good resources out there with sample questions), that practice will help you feel calm and confident for the real interview.
Last, but very crucial for your startup nonetheless, focus on showing your ability to grow/gain traction. Even great ideas are not that valuable by themselves. And having 10 clients with a shitty product is way more impressive than a great product with 0 clients.
Love the persistence. Happy to help edit your app or do a mock interview.
Random idea for your product you've probably heard before - wedding website providers might be a good channel.
If a startup is not making serious money after 2 years, it's probably dead in the water.
I don't think the time spent on a startup is a good measure of whether to give up or not. There are plenty of examples of companies that took longer than 2 years to get to significant revenue (and plenty more that have never turned a profit).
Is true about companies taking longer than 2 years to get significant revenue? I am in 20th month and barely hitting $5k per month with a burn rate higher than that.
Good to know other companies taking longer to get revenues; I don't feel like that much of a loser now ;)
1: Every time we got an interview we asked for recommendations. Last time we got a straight up email rejection when we decided it was probably a bad idea to ask again our network for a recommendation for the third time. If anything our startup was doing better than the last time we applied so I'm not sure how their process works.
2: We recycled our 1 min video and we got an interview. So if you're too lazy to make a new one, I guess it's fine
3: We'll apply for the 10th time sometime this weekend, and probably for the 11th.. fuck it.